Oracle launches new round of layoffs, with some teams facing double-digit cuts

According to a report by Business Insider, Oracle (ORCL.US) has initiated a new round of layoffs, which insiders say is expected to begin on Monday. Last month, the media outlet reported that Oracle had drawn up new layoff plans aimed at cutting payroll costs, as the company is accumulating tens of billions of dollars in debt to fund artificial intelligence infrastructure construction. According to internal documents, some teams have layoff rates reaching double digits. In the company's most recent filings, Oracle's number of employees decreased by 21,000, a decline of 13% in the fiscal year ending May 31, 2026. Oracle stated that, before the start of this round of layoffs, the company had approximately 141,000 employees. Oracle has accumulated tens of billions of dollars in debt for building data centers, betting on growing demand for artificial intelligence. Oracle reported that capital expenditure for the first quarter reached $28.5 billion, up from $8.5 billion in the same period last year, and maintained its fiscal year 2027 capital expenditure forecast at between $90 billion and $95 billion.